UNIONDALE, NY (April 30, 2012) -Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and a national, direct commercial real estate lender, announced the recent $29,070,000 funding of a three-property portfolio across Texas for Los Angeles-based Post Investment Group. The three loans were funded under the Fannie Mae Delegated Underwriting and Servicing® (DUS) Loan product line for the portfolio’s combined $41,400,000 acquisition. These loans include:
Ladera Palms, Fort Worth, TX (top left photo) – This 784-unit complex received $11,550,000 funded under the Fannie Mae DUS® Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. Ladera Palms has performed well in its sub-market, which has a long-term positive performance outlook. The property features 68, two-story apartment buildings; six outdoor, in-ground swimming pools, including three kiddie pools and three adult pools; a playground; a basketball court; a fitness center; and three tennis courts.
Canyons at 45 West, Amarillo, TX (middle right photo) – This 328-unit complex received $10,270,000 funded under the Fannie Mae DUS® Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. Canyons at 45 West recently emerged from a substantial renovation project that significantly enhanced occupancy in a strong market with rising demand. The property’s units now feature new kitchens, bathrooms, interiors, flooring and plumbing.
Regal Crossing, Dallas, TX (middle left photo) – This 384-unit complex received $7,250,000 funded under the Fannie Mae DUS® Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. Regal Crossing recently underwent several significant capital improvements that have elevated its strong position in the market further with rising occupancy. Amenities include two pools with patio areas, a business center, a lounge and two laundry rooms.
All of the loans were originated by Alex Kaushansky (lower right photo), Vice President, in Arbor’s New York City office.
“Arbor takes pride in the long-term relationships it builds with its borrowers, a fact that helped lead to the funding of these properties,” Kaushansky said. “In addition to the strong sponsorship, each of the deals involved properties exhibiting robust performance track records within local markets with increasing rental demand.”
Contact: Christopher Ostrowski, costrowski@arbor.com
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